Alibaba's Message: Sell High, in Any Language

The Chinese Internet giant's IPO is coming while the market is near a peak. Is Apple chasing Dr. Dre? Bonds burn bright.

It might not be the biggest initial public offering ever. It might not even be the biggest China IPO. But, in its historic symbolism, Alibaba's filing to issue shares in the U.S. goes beyond the numbers.

Alibaba, of course, is China's largest e-commerce company, which effectively makes it the world's biggest marketplace. And it is planning to issue shares to the public just as China's economy might be on the verge of becoming the world's largest -- overtaking the U.S., which has held that spot since the late 19th century...